3. Schools. Austin area schools are consistently ranked among the best in the state and even the country. For the top rated public schools in the area, check out the Eanes School District in West Austin, and the Round Rock and Leander ISDs. There are also several highly-rated independent and church-affiliated private schools throughout the city.

4. Colleges & Universities. Austin is perhaps best known as the home of the University of Texas. UT sits right in the middle of the city, just north of the Capital, with nationally ranked undergraduate, graduate and adult education programs. Just south of the river, St. Edwards University is a private, Roman Catholic university known for quality liberal arts programs. Several Austin Community Collage campuses can be found throughout the city, offering quality undergraduate and adult programs, as well as Early College Start programs for high school students.

5. Live Music & Events. “The Live Music Capital of the World” is home to more than 200 live music venues and over 1,900 local musicians! On any given night, you can find incredible live music on the world-famous 6th Street or nearby in the Warehouse District, another growing entertainment area. Local favorites for live performances include Stubb’s BBQ, Auditorium Shores and the newly completed Austin Music Hall. You can also check out hundreds of local and national acts every spring at South by Southwest (SXSW) and at Austin City Limits Music Festival in late summer.

6. Parks & Lakes. The city’s parks, greenbelts and lakes offer endless possibilities for outdoor fun. Barton Springs is a popular attraction, at an average temperature of 68° year round! Lady Bird Lake and Lake Travis offer great places for boating and skiing, and miles of hike & bike trails throughout the city are perfect for exercise and leisure. The most popular outdoor destination is Zilker Park, located along the south shore of Lady Bird Lake. Zilker Park is home to a popular dog park, the famous Barton Springs Pool as well as one of the largest trailheads leading into the Barton Creek greenbelt.

7. Sports. Great sports action is never far away, with UT athletics throughout the school year, as well as the Austin Aztex USL soccer team and the Round Rock Express baseball team, affiliate of the Houston Astros! Coming in 2009 or 2010, the Texas Stars AHL hockey team will hit the ice in Cedar Park as the top affiliate of the Dallas Stars NHL franchise.

8. Temperature & Climate. Bring your sunscreen! Austin averages 300 days of sunshine per year, with hot summers and mild winters. The coldest month in Austin is typically January, with overnight lows averaging 40°. In the summers, late July and August are typically the hottest, with average daytime temperatures in the mid to upper 90s.

9. Shopping. Key shopping centers for the area include Southpark Meadows and Barton Creek Mall in South Austin, La Frontera and the Round Rock Premium Outlets in Round Rock, as well as Lakeline Mall and the new 1890 Ranch in Cedar Park. For great local boutiques and arts, check out the great clothing and vintage stores on South Congress, as well as “The Drag” on Guadalupe near the UT campus.

10. Dining. Whatever kind of food or atmosphere you’re in the mood for, there are great places to eat all over the city. Find your own favorite neighborhood eatery or look for local favorites scattered across town, like Chuy’s Tex-Mex, Gumbo’s Louisiana Style Cafe, Austin Java, Amy’s Ice Cream and Rudy’s Country Store & BBQ.

Buffington Signature Homes is locally owned and operated in Austin, proudly building new homes in the most sought-after communities in South Austin, Round Rock and Cedar Park. Dedicated to building homes that will last a lifetime, Buffington combines innovative floor plans, skilled craftsmanship and an exceptional buying experience to deliver homes that each and every customer is proud to live in.

Another big trend in 2007 was urban revitalization. In an effort to attract more people to move to their towns, city planners are remaking their downtown residential and business districts into inviting, accessible areas.

This could be something as simple as redoing the landscape to a full-blown renovation project on the town square. Planners are also taking care to build parking areas and plan traffic around what they hope will be new hot spots of activity.

Developers have an opportunity to find those hidden gems around the nation and start planning a residential development nearby that will offer access to these revitalized areas.

It takes a lot of research and you will need a good business network, but if you can find that part of town that you know is going to be the next Greenwich Village, then you have the perfect opportunity to put your name on the map.

For more information about Urban Revitalization, we recommend that you visit the Urban Land Institute (www.uli.org). They have some great resources including a one-day conference called the Urban Marketplace which gives you the opportunity to look at some investment opportunities and hear more about urban strategies in neighborhoods.

Where do you go from here?

Once you find that special place to build your new development, you have months and maybe even years of work ahead of you. It can be overwhelming to someone new to the game and even to a veteran. Don’t try to do everything on your own! Be willing to find help to take some things off your shoulders so you can concentrate of creating a great space in the newly revitalized urban area.

Understanding what the market will accept is fundamental to a good real estate marketing program. A consultative marketing plan in our process will assist in establishing a baseline for all discussions with the development team as it relates to programming, product mix, product size, development schedule, etc. Need more help? Talk to a luxury real estate expert and find out what your next step needs to be.